Morgan Stanley suspects the recent trends in packaging will continue amid concerns over Orora's North American performance. The broker continues to favour Amcor ((AMC)) in the sector.

Orora is expected to report a first half EBIT result of $177m, up 1%. Morgan Stanley lowers estimates by -3% across the forecast period to account for the top-line pressures in North America.

Equal-weight. Price target is raised to $3.30 from $3.00. Sector view is Cautious.

Sector: Materials.

Target price is $3.30.Current Price is $3.28. Difference: $0.02 - (brackets indicate current price is over target). If ORA meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2020 Acquisdata Pty Ltd., source FN Arena